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Q&A: Boosting Growth, Resilience, and Competitiveness in Pakistan with ADB Country Director for Pakistan Xiaohong Yang

Q&A: Boosting Growth, Resilience, and Competitiveness in Pakistan with ADB Country Director for Pakistan Xiaohong Yang
adb.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adb.org Daily Mail and Mail on Sunday newspapers.

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ADB approves $10b lending plan

ADB approves $10b lending plan
Initiative will support Pakistan’s efforts to deal with economic, social challenges
In 2021, the ADB may approve $2.4 billion, followed by $1.5 billion in 2022 and $2.5 billion in 2023. PHOTO: FILE
ISLAMABAD:
The Asian Development Bank (ADB) on Wednesday approved a new five-year indicative lending programme of $10 billion aimed at supporting Pakistan’s efforts to deal with economic and social challenges thrown up by the pandemic and persistent structural weaknesses.
The Manila-based lender will provide these loans from 2021 through 2025, including the $6.3 billion that it plans to approve in the next three years. However, the actual approval and disbursement of these loans will depend on Pakistan’s ability to meet conditions and timely process loan documents. About one-fourth of the total loans will be concessionary at around 2% interest rate and remaining loans will cost Islamabad the London Interbank Offered Rate (Libor) ....

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New Asian Development Bank 5-Year Partnership Strategy to Lift Pakistan's Growth, Resilience, and Competitiveness

New Asian Development Bank 5-Year Partnership Strategy to Lift Pakistan’s Growth, Resilience, and Competitiveness
Manila, January 27, 2021 (PPI-OT): The Asian Development Bank (ADB) has endorsed a new 5-year country partnership strategy (CPS) to help restore economic stability and growth in Pakistan, enhance people’s well-being, create jobs, and expand economic opportunities as the country works to overcome the coronavirus disease (COVID-19) pandemic.
The pandemic has interrupted the macroeconomic recovery in Pakistan, resulting in a sharp contraction in growth, a rise in public expenditures, and a loosening of monetary policy to mitigate the health and economic impacts.
“As with many countries in the region, COVID-19 has affected Pakistan, revealing the extent to which the population is exposed to economic and social vulnerabilities,” said ADB Director General for Central and West Asia Eugene Zhukov. “The new CPS 2021-2025 will build greater resilience of th ....

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New ADB 5-Year Partnership Strategy to Lift Pakistan's Growth, Resilience, and Competitiveness

New ADB 5-Year Partnership Strategy to Lift Pakistan's Growth, Resilience, and Competitiveness
adb.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adb.org Daily Mail and Mail on Sunday newspapers.

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Experts share their take on 2021 | The Express Tribune

The Express Tribune speaks to experts in different sectors to assess outlook of economy
Pakistan has expectedly missed its GDP growth rate target in the outgoing fiscal year. PHOTO: INP
The economy had been under pressure for the past 12 months. While for some sectors 2020 had been a nightmare, for others it was a blessing in disguise.
It had been a year unlike any; while the services sector was battered by the pandemic, new businesses also emerged. Though the agriculture sector suffered due to lockdowns, locust attack and climate change, the construction sector and capital markets managed to finish the year on a positive note. ....

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